Interior lawmakers oppose Permanent Fund bill

The Fairbanks Daily News-Miner reports that all but one of the Interior Delegation's House members say they either oppose the measure or were undecided.

FAIRBANKS, Alaska (AP) — Interior lawmakers with the Alaska House are opposing legislation that would use Alaska's oil wealth nest egg to help address the state's bulging budget deficit.

The Fairbanks Daily News-Miner reports that all but one of the Interior Delegation's House members say they either oppose the measure or were undecided.

Last week the Senate passed the legislation, which would allow for draws from the Alaska Permanent Fund earnings based on a percentage of the fund's market value, but would also reduce annual dividend payments to $1,000 starting this year.

The measure is expected to close about $1.2 billion of Alaska's more than $3 billion deficit. It was introduced as a part of a broad package aimed at decreasing the debt but Interior lawmakers say those extra cuts likely will not pass, making the bill less beneficial.